Arvinas (NASDAQ:ARVN) Reaches New 1-Year Low – What’s Next?

Arvinas, Inc. (NASDAQ:ARVN)’s share price reached a new 52-week low during trading on Thursday . The company traded as low as $7.83 and last traded at $7.85, with a volume of 677217 shares. The stock had previously closed at $7.95.

Analysts Set New Price Targets

Several research firms have recently weighed in on ARVN. Wedbush cut shares of Arvinas from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $57.00 to $12.00 in a research report on Wednesday, March 12th. Stifel Nicolaus cut their target price on Arvinas from $63.00 to $51.00 and set a “buy” rating on the stock in a research report on Wednesday, February 12th. Wells Fargo & Company set a $26.00 price objective on shares of Arvinas and gave the stock an “overweight” rating in a research report on Wednesday, March 12th. The Goldman Sachs Group downgraded shares of Arvinas from a “buy” rating to a “neutral” rating and dropped their target price for the company from $70.00 to $15.00 in a research report on Thursday, March 13th. Finally, Oppenheimer cut shares of Arvinas from an “outperform” rating to a “market perform” rating in a report on Tuesday, March 11th. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $35.50.

Arvinas Stock Performance

The business has a 50-day simple moving average of $15.27 and a 200 day simple moving average of $20.70. The firm has a market cap of $521.98 million, a P/E ratio of -2.74 and a beta of 1.95.

Arvinas (NASDAQ:ARVN) last released its quarterly earnings results on Tuesday, February 11th. The company reported ($0.63) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.07) by $0.44. Arvinas had a negative net margin of 75.51% and a negative return on equity of 33.75%. During the same period in the prior year, the company earned ($2.53) earnings per share. On average, research analysts expect that Arvinas, Inc. will post -3.81 EPS for the current year.

Insider Transactions at Arvinas

In related news, insider Noah Berkowitz sold 8,658 shares of the company’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $8.59, for a total value of $74,372.22. Following the transaction, the insider now directly owns 110,023 shares of the company’s stock, valued at approximately $945,097.57. This represents a 7.30 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO John G. Houston sold 31,338 shares of Arvinas stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $16.72, for a total value of $523,971.36. Following the completion of the sale, the chief executive officer now owns 1,157,480 shares of the company’s stock, valued at $19,353,065.60. The trade was a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,230 shares of company stock valued at $769,402. Insiders own 5.23% of the company’s stock.

Institutional Trading of Arvinas

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Invesco Ltd. lifted its position in Arvinas by 1.6% during the fourth quarter. Invesco Ltd. now owns 37,254 shares of the company’s stock valued at $714,000 after purchasing an additional 581 shares in the last quarter. Rhumbline Advisers lifted its position in shares of Arvinas by 0.9% during the 4th quarter. Rhumbline Advisers now owns 87,877 shares of the company’s stock valued at $1,685,000 after buying an additional 754 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Arvinas by 0.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 140,518 shares of the company’s stock valued at $2,694,000 after acquiring an additional 777 shares during the period. Bank of Montreal Can increased its holdings in Arvinas by 2.7% in the 4th quarter. Bank of Montreal Can now owns 39,407 shares of the company’s stock worth $755,000 after acquiring an additional 1,044 shares in the last quarter. Finally, KBC Group NV increased its holdings in Arvinas by 77.0% in the 4th quarter. KBC Group NV now owns 2,885 shares of the company’s stock worth $55,000 after acquiring an additional 1,255 shares in the last quarter. 95.19% of the stock is owned by hedge funds and other institutional investors.

About Arvinas

Arvinas, Inc, a clinical-stage biotechnology company, engages in the discovery, development, and commercialization of therapies to degrade disease-causing proteins. The company engineers proteolysis targeting chimeras (PROTAC) targeted protein degraders that are designed to harness the body’s own natural protein disposal system to degrade and remove disease-causing proteins.